The U.S. payments landscape has undergone a major transformation, with the physical transportation of checks replaced by the capture, processing and clearing of check images from diverse points of deposit including branches, kiosks, ATMs, merchant locations, homes and mobile phones.

The unprecedented convenience for customers has raised the bar on expected user experience. It has also ushered in a set of risks, from outright fraud to unintended errors.

As the financial services industry emerges from the Great Recession, the battle between institutions will be for customer deposit acquisition and retention. The delivery of superior service will be critical in enhancing customer loyalty. Risk mitigation and customer service are often competing imperatives. In the battle for deposits, the successful financial institutions will be those that can ensure a consistent, positive customer experience while mitigating deposit risk.

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